- Rishi slams stars for missing Vinod Khanna's funeralSharing screen with Salman will be surreal: Angad BediDiamond shapes define your personality tooEating 'diet' foods can make you fat: StudyImtiaz to finalize title of upcoming filmHow to make your bedroom summer-friendlyShraddha ages in 'Haseena...'How to dress right for office in summerVIP voting in MCD polls amid EVM glitches'Half Girlfriend' to release across 1600 Indian screens
Rio Olympic silver medallist P.V. Sindhu defeated Dinar Dyah Ayustine of Indonesia to adva
Landlord's PAN must for tax benefit if rent exceeds Rs 1 lakh Last Updated : 18 Dec 2013 03:33:41 PM IST Quoting PAN number of landlord is must if the annual house rent exceeds Rs 1 lakh (File Photo)
Quoting landlord's PAN is mandatory if you pay more than Rs 1 lakh annually towards house rent.
If the PAN is not furnished then it would not be possible to claim tax benefit under House Rent Allowance.
"...an employee claiming exemption from tax with respect to House Rent Allowance received is now required to report the PAN of the landlord to the employer, if the rent paid by the employee to the landlord exceeds Rs 1 lakh per annum, along with the rent receipt," said Minister of Sate for Finance J D Seelam in a written statement in the Rajya Sabha on Tuesday, Dec 17.
He quoted a circular by the Central Board of Direct Taxes (CBDT) on the matter of deduction of tax at source during the payment of salaries.
"In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employees," he added.
In a separate response, Seelam said the number of tax assesses have increased manifold. In the past 15 years, the number of effective IT assesses has increased by more than three times from 1.16 crore as on March 1997 to 3.63 crore at the end of March 2012.
He also said 42,800 persons other than companies admitted to a taxable income exceeding Rs 1 crore.
"The Cabinet has approved the cadre restructuring of the Income Tax Department in May 2013. The implementation of the same is under progress," he said.
Additional 1,080 assessment units to be manned by around 20,000 more personnel have been created to meet the increasing number of IT assesses, he said.
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
Where at one side it was late actor Vinod Khanna's funeral on the other side actress Priya
- Indian short film to be screened by Unesco in Indonesia
- Deepika shot title track of 'Raabta' in one night
- 'Baahubali 2': Hype by makers, expectations by fans touch new highs
- Samuel L. Jackson, Bruce Willis to again work with Shyamalan
- Sharing screen with Salman will be surreal: Angad Bedi
- Parineeti doesn't need auto tune for singing
- Shraddha Kapoor 'honoured' to play Saina Nehwal in biopic
- 'Jolly LLB 2': HC exempts Akshay Kumar from personal appearance in court
Indian Man Kaur, 101, won the 100 metres sprint at the World Masters Games here on Monday.
Chinese smartphone-maker Huawei, under its Honor brand, is rumoured to launch "Honor 8 Lit